There are certain charts, such as the " AMD" stock, which touched a major trend line a few days ago. I short-sold it . We are making a profit from that deal.
Let's look at AMD. AMD is on my radar for a potential short. Uh this would actually be a great potential swing trade short. Major pivot high right here going back to the bull market high of 2024 on these stocks.
Now, what do I mean by a major bull market high? Big move up, big move down. That's obviously a major mountain top at that point. Now, it turns out we went a lot higher here. But look at this.
Then you have this push up right to that high. Then we have a significant draw down here. Well, where do we think probability sits that we might see AMD run into resistance at this trend line?